Aerospace sector downgraded to Neutral from Attractive at GoldmanGoldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.

Lockheed Martin to pay $62M to settle retirement plan lawsuit, WSJ saysLockheed Martin will pay $62M to settle a civil suit alleging its 401(k) plan charged unreasonable fees, reports the Wall Street Journal, citing legal filings and company statements. As part of the settlement, Lockheed will also have to submit monthly evaluations of certain aspects of its plan, offer new low-cost funds, and solicit bids from at least three large firms to serve as administrative managers of the company's retirement plans. Reference Link

Alaska Air purchasing six Boeing Extended Range aircraftAlaska Airlines (ALK) is purchasing six more Boeing (BA) 737-900 Extended Range aircraft, valued at $594M. Boeing's current list price. The new planes, four scheduled for delivery in 2016 and two in 2017, bring Alaska's total of locally manufactured jets on order to 79.

Spirit AeroSystems likely to collect some funds from Gulfstream,says Wells FargoAfter Spirit AeroSystems (SPR) disclosed in a February 13 regulatory filing that it had settled its dispute with General Dynamics' (GD) Gulfstream unit with respect to amounts due on G650 deliveries from 2010 through Q3 2013, Wells Fargo expects Spirit to collect some of the $135M that it held n retainage in accounts receivable for Gulfstream underpayments as of the end of last year. The firm says it cannot estimate the amount that Spirit will collect. It keeps an Outperform rating on Spirit.

Boeing awarded $29.5M contract for laser weapons on Navy shipsBoeing said it has been awarded a $29.5M contract to design and develop a beam control system that could provide exceptional accuracy for laser weapons on U.S. Navy warships.